Financial Performance - The net loss for Q3 2024 was $2.3 million, or $2.05 per share, compared to a net loss of $1.2 million, or $1.62 per share in Q3 2023[10]. - Cash as of September 30, 2024, was $2.0 million, which, along with $16.5 million in loan proceeds, is insufficient to fund operations for the next 12 months[11]. - Total assets as of September 30, 2024, were $2.3 million, down from $4.2 million at the end of 2023[17]. - Total liabilities increased to $1.3 million as of September 30, 2024, compared to $0.4 million at the end of 2023[17]. Expenses - Research and development expenses increased by $0.2 million in Q3 2024 compared to Q3 2023, primarily due to a $0.3 million increase related to a grant for a Long-COVID study[8]. - General and administrative expenses rose by $0.9 million in Q3 2024 compared to Q3 2023, mainly due to higher legal and professional fees of $1.0 million[9]. Funding and Financing - Dogwood Therapeutics raised $19.5 million in committed debt financing, with $16.5 million funded as of October 7, 2024, and an additional $3.0 million expected in Q1 2025[4]. Development Pipeline - The company has three late-stage assets: Halneuron® in Phase 2b for chemotherapy-induced neuropathic pain, IMC-1 ready for Phase 3 for fibromyalgia, and IMC-2 in Phase 2 for Long-COVID[3]. - Top-line results from the IMC-2 Phase 2a study are expected by mid-November 2024[5]. - Interim data from the Halneuron® Phase 2b study are anticipated in the second half of 2025[6].
Dogwood Therapeutics, Inc(DWTX) - 2024 Q3 - Quarterly Results